Agricultural Micronutrients Market by Type by Form by Region - Global Trends & Forecast to 2021

The Agricultural Micronutrients
Market is projected to reach USD 8.05 Billion by 2021, growing at a CAGR of
around 8.2% from 2016. The global agricultural micronutrients market has grown
exponentially in the last few years. Countries in the Asia-Pacific region such
as China, Japan, and India are the primary targets of the industry. Increase in
soil deficiencies, macronutrients antagonism, and increasing demand for of
high-quality yield are some of the major driving factors for the market.

“Agricultural micronutrients market is
projected to grow at a CAGR of 8.2%.” The agricultural micronutrients
market is projected to reach a value of USD 8.05 billion by 2021, growing at a
CAGR of 8.2% from 2016. The market drivers include increase in soil
deficiencies, increase in demand for biofuels, macronutrients antagonism, and
increase in demand for high-quality yield.

“Zinc segment is projected to be the
largest and fastest-growing segment, by type, from 2016 to 2021.” Zinc
deficiency is one of the most common micronutrient deficiencies in crops,
especially in developing countries. To meet this zinc requirement, farmers are
adopting more zinc-based micronutrients, thereby driving the growth of the
agricultural micronutrients market.

“Soil mode of application is projected to
be the fastest-growing and largest segment from 2016 to 2021.” Soil is
the most commonly used mode of application for agricultural micronutrients,
because of its user friendliness and economical nature.

“Asia-Pacific is projected to be the
fastest-growing segment from 2016 to 2021.” The demand for
agricultural micronutrients is driven by the increasing demand for nutritious
food by the customers. Increased awareness among farmers about the benefits of
micronutrients, increased agriculture practices & technologies, growing economy
& disposable income, and management of crop production costs are also
driving the Asia-Pacific agricultural micronutrients market.

The major restraint of the
agricultural micronutrients market include critical application doese. The
agricultural micronutrients market is highly competitive and less concentrated
due to the presence of a high number of large- and small-scale firms.
Acquisitions, and expansions & investments are the key strategies adopted
by market players to ensure their growth. Players such Agrium Inc. (U.S.), BASF
SE (Germany), Akzonobel N.V. (Netherlands), Yara International ASA (Norway),
and The Mosaic Company (U.S.) collectively accounted for the largest share of
the agricultural micronutrients market, as of July 2016.

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Key
Take-Aways From this Report:

Global market size provided
for the year 2015; industry growth forecast from 2016 to 2021

Soil segment dominated;
accounted for XX.X% of the total value in 2015

The largest value of USD XXX.X
million recorded in 2015 in the zinc micronutrients segment

Asia-Pacific: The most
dominant region in the agricultural micronutrients market with the market size
of USD XXX.X million in 2015